Friday's letters: Tax reform proposal

Thursday

Nov 9, 2017 at 3:03 PMNov 9, 2017 at 3:03 PM

Make tax overhaul our No. 1 priority

There is a great need for tax reform and the time could not be better to get it going.

Of course, some need it more than others, but we can all work together and perform this chore! This is not a pleasing task and there will be some disappointments. As is the usual case, we can’t please everyone.

That’s the secret — “working together”!

Personally, I think we are on a roll and will be able to satisfy a great many folks. If we don’t give it a try, we will never know what works and what does not.

Let’s think positive on what has been suggested and make improvements where needed and make tax overhaul our No. 1 priority.

Joan Shirey, Bradenton

Reform bill would increase taxes for many Americans

The tax-reform bill released this week would cost our family money.

Being in the bottom of middle-income filers and sinking lower should place our family with millions of others. As senior citizens, we rely on itemized deductions to save on taxes.

Most recent years our medical and dental expenses have allowed us to itemize, and our itemized deductions have totaled more than the proposed $24,000 standard deduction.

We would also lose our $8,100 exemptions. Add in the increase in our tax bracket to 12 percent and we would have had to pay over $1,500 more in taxes in 2017.

Our itemized deductions amounted to over 70 percent of our taxable income, meaning that we have had to dip into retirement savings to pay for housing, food and necessities. A few bad health years and we would have to sell our home. But we feel we are among the fortunate. Many are much worse off.

Why do the Republicans want to increase taxes on low- and middle-income citizens to pay for million-dollar breaks for the wealthy?

This proposed law would even include a provision so the president will be able in a few years to save millions of dollars in estate taxes as he passes his wealth to his children. I don’t have the exact figures on this, as I have yet to see his tax returns.

Don’t believe the propaganda coming out of the swamp. This is a tax increase for many Americans.

Robert Fanning, Venice

Plan takes from middle class and gives to the wealthy

The GOP tax bill under consideration in the House of Representatives is an astounding effort to take away from the middle class while enriching the wealthy segment of our society.

Republicans are working hard to stay within their “goal” of increasing the national debt by $1.5 trillion, as if that is a reasonable thing to do.

They claim it will bring more jobs — when the nation is already at full employment. Huh?

They claim it will increase wages because employers will have more money — at a time when employers already have lots of cash and are spending it on stock buy-backs, corporate buyouts and increased stock dividends, not on increasing employee incomes.

How does this all make sense for the average working man or woman? It doesn’t. The benefits will go to wealthy shareholders of the companies as their profits and stock prices go up, and to bondholders as inflating interest rates drive up bond prices.

The national debt is a bomb that will go off big-time when interest rates rise to the point that just paying the interest chews up money that should go to running the country, the government, the military and the entitlements to which we are all accustomed. Then what?

We should not be fooled! This $1.5 trillion debt increase is not for the middle class!

Tom Belcher, Sarasota

Bill violates values that Jesus taught

The GOP tax plan is a shameful document that betrays every value I hold dear as a person of faith.

How can we give more tax cuts to the wealthy and continue to ignore the needs of the majority of our country, especially the workers struggling to make a living and the poor who have nothing? According to Matthew 25, Jesus said, "Whatsoever you do to the least of my brothers and sisters, you do unto me.”

This proposed tax plan is a moral travesty that violates the common good of everyone, except the rich. We need a tax plan that is fair and just for everyone.

Wealthy corporations and individuals do not need more tax breaks that will more than likely be paid for in the future by cuts to programs like Medicare and Social Security.

We, the people, should contact our elected representatives before this tax plan becomes a reality and it is too late.

Bridget Mary Meehan, Sarasota

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